Market Size of Southeast Asia Surface Treatment Chemicals Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 6.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Southeast Asia Surface Treatment Chemicals Market Analysis
The Southeast Asia surface treatment chemicals market is expected to register a CAGR of over 6% during the forecast period.
The COVID-19 pandemic outbreak resulted in substantial production losses for the industrial sector owing to prolonged lockdowns, lack of labor, and strict social distancing norms. Many plant expansion projects were put on hold during this period, leading to hindrances in the market demand for surface treatment chemicals. However, with the industrial sector making a steady recovery post-pandemic, order for the surface treatment chemicals market is anticipated to grow during the forecast period.
- Rapid industrialization and growing demand from the automotive and transportation industry are anticipated to serve as the growth engines for the surface treatment market in the region.
- On the flip side, strict regulations governing emissions of volatile organic compounds (VOCs) associated with surface treatment applications could hinder market growth.
- However, the rising awareness about the benefits of surface treatment application in various industries, such as the food & beverage industry, is anticipated to provide future opportunities to the studied market.
- Indonesia is expected to dominate the Southeast Asia surface treatment chemicals market during the forecast period, owing to rapid industrialization and various industrial expansion projects undertaken in the country.
